Bitcoin BTC/USD is trading at 6544. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 6350 is expected, from which it is expected to rebound and continue growth with the target close to 7000.
Bitcoin forecast & analysis BTC/USD on November 2, 2017
An additional signal in favor of the growth of the cryptocurrency will be a test of the support area. Earlier, a medium strength signal was obtained for the buy of Bitcoin cryptocurrency due to the crossing of signal lines at the level of 5700. The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 5750, which will indicate an bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations BTC/USD stands with a breakdown of the local maximum level and closing above 6650.
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